How Do I Budget A Small Business? Plus Self Employed Taxes 101

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“If you’re self-employed, you pay the combined employee and employer amount, which is a 12.4 percent Social Security tax on up to $127,200 of your net earnings and a 2.9 percent Medicare tax on your entire net earnings.” -SSA.Gov

https://www.ssa.gov/pubs/EN-05-10022.pdf

Quarterly Business Tax Payments
“The rule is that you must pay your taxes as you go. If at filing time, you have not paid enough income taxes through withholding or quarterly estimated payments, you may have to pay a penalty for underpayment.” – TurboTax

https://turbotax.intuit.com/tax-tools/tax-tips/Small-Business-Taxes/Estimated-Taxes–How-to-Determine-What-to-Pay-and-When/INF12007.html

Tools:
Budgeting, Debt Snowball, Investing, Creditors
http://gatewaypeople.com/ministries/stewardship/resources

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By: basicknowledge
Title: How Do I Budget A Small Business? Plus Self Employed Taxes 101
Sourced From: basicknowledge.page/how-do-i-budget-a-small-business-plus-self-employed-taxes-101/
Published Date: Sat, 20 Mar 2021 16:54:18 +0000


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